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What is the income before bonus and tax

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Reference no: EM132786940

Christian Company has a bonus agreement which provides that the general manager shall receive an annual bonus of 10% of the net income after bonus and tax. The income tax rate is 30%.

The general manager received P280,000 for the current as bonus.

Question 1: What is the income before bonus and tax?

a. 4,280,000

b. 4,000,000

c. 2,800,000

d. 3,720,000

Reference no: EM132786940

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